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Unwanted Roommates, Apartment Landlords’ Saving Grace
Marcus & Millichap, an investment-sales firm based out in Cal-ee-forn-ya, unloaded on Friday evening its 2009 forecast for apartment markets throughout the U.S. The predictions for New York City...
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I Got It, Thanks: Leases in Manhattan’s Doorman Buildings Plunge
New rent stats suggest that doorman buildings are starting to go out of fashion for the masses as Manhattanites seek to cut back on expenses—even if it means having to hoof their own packages upstairs....
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Transformer! Brooklyn’s Biggest New Tower Set To Change Downtown’s Tone, For...
Hundreds of new residents will pour into downtown Brooklyn when its tallest building—the 51-story Brooklyner—opens in 2010. Building the high-rise at 111 Lawrence Street—Brooklyn’s tallest by two...
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Green Power! Environmentalist Scores Co-op from Ex-Bear Stearns Derivatives Ace
In a particular vision of a perfect New York City, all Wall Street types who once worked with supremely murky financial instruments would have to sell their prewar uptown co-ops, and at steep...
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Sheffield Residents Plan to Party as Fortress Takes Over the Sheffield from Swig
Residents of Sheffield57, perhaps the most ill-starred condo conversion in recent history, are “euphoric” that developer Kent Swig and his junior partners on Thursday formally lost control of the...
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Your Open House: Who’s Shelving the Wine Next To the Windex?
Studios are a place to store a person, self-storage in the most literal sense. That might not always be the most appealing real estate option, but today’s falling prices have many renters contemplating...
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Manhattan Apartment Building Sales Drop Like a Beer Bottle From the Fire Escape
The multi-family sector of the real estate market is often described as the healthiest of the commercial bunch. Insomuch as there is, in fact, the occasional transaction, that description holds water....
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For Apartment Seekers, the Summer of Change Changes
Well, so much for all that. Matt Puleo, an accountant looking for an apartment in the East Village or Gramercy, said that only 5 percent of the places he’s looked at recently have offered concessions....
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How to Fix Rent Regulation
Welfare is defined as “financial aid or other assistance to an individual or a family from a city, state or national government.” It is further defined as “receiving financial aid from the government...
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Stuy Town Opens to the Masses Again
Closed to new tenants since October in the wake of a mega court decision on rents, Stuyvesant Town is now opening its flood gates. Per a statement from a Tishman Speyer spokeswoman, the...
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Multifamily, Yesterday and Today
Operating multifamily properties in New York City is a challenging task, given the complexities involved in the city’s rent-regulation system. If you are a frequent reader of Concrete Thoughts, you...
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Hey, College Kiddies! Welcome to the Island of the $2,417 Studio
Aside from hay fever and spring fever, the flush of New York City’s apartment fever hit Thursday morning thanks to the latest Douglas Elliman and Miller Samuel first-quarter rental market report. For...
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A Call for Means Testing in Rent Regulation
Food and shelter are two of life’s basic necessities. For those who need assistance feeding themselves, the Food Stamp Program is available. This program issues monthly benefits that can be used to...
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Manhattan’s Leasé-Faire Apartment Market
The rental market is up and the rental market is down, according to the newly released Manhattan Rental Market Report. Although the report, released monthly, shows that rents were up by 1.82 percent...
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What the Chinese Want with New York
The red is for debt, and for China. (Photo: HowardDigital.com) It’s not just America’s debt the Chinese are willing to buy in to—they’re also investing in Manhattan residential real estate, which...
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Building Stories: Shadowing Manhattan Valley
Lots of parallels come to mind when one contemplates the Avalon Morningside Park, a new 20-story monolith capping Columbus Avenue at 110th Street. A vast cruise ship turned on its side, perhaps, or one...
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Coming Soon: The Decent $1K Manhattan Apartment?
Stephen Maycock, a senior vice president at DJK Residential, has a three-bedroom apartment available, a "good family apartment" in the West 60s. Last year, it rented for $6,500 per month. This year,...
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What You May Have Missed From Us …
We’re back at full-steam. But here’s what we had during the past week or so: Predictions, predictions. A rundown of what should happen in New York’s residential and commercial real estate markets in...
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The New Real Estate Superstar Is Old Again
Here was me writing in October 2007, during a very different New York real estate market: Never have so few earned so much for working so little. It’s not that rental agents are lazy (the successful...
View ArticleMemo to Apartment Landlords: Get Used To It
Tenant incentives and lower rents should be the order of the day, every day, for 2009, according to the Real Estate Group New York’s 2008 Manhattan rental market report. The report (PDF) predictably...
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